If you want to get your own bitcoins, you have a couple different options currently. We’re going to go over the basics of both of the ways to get bitcoins so that you can get started. After you’ve installed your Bitcoin Wallet, you’re going to be ready to go. There are two basic places you can get bitcoins online – Bitcoin Exchanges and via Bitcoin Mining. We’re going to take a look at both of them so you can decide which one you want to pursue.
The first place you can get your very own bitcoins is one of the many different Bitcoin Exchanges or marketplaces online. Using your Bitcoin Wallet, you can purchase bitcoins with currency from a number of different nations. The amount you’ll pay varies as the value of a single Bitcoin goes up and down, but over the last few years the price of bitcoins has been increasing. Currently, each Bitcoin is worth several hundred dollars.
If you’d rather not purchase bitcoins, there’s also a way to generate new bitcoins for yourself. This process is known as Bitcoin mining. After downloading software, you’ll be able to use your computer’s processing power to solve cryptographic puzzles. This process appends a new block (transactions) to the shared public record – aka the block chain. Early Bitcoin miners were able to do this with software alone, but as competition increased, it has become almost necessary to have dedicated hardware to solve the math problems and generate bitcoins.
For even more in depth information about how to get bitcoins, including tips and advice for investing in bitcoins, you should check out our complete Bitcoin eBook.